Scant U.S. Hope for Russian Reversal

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By Philip Shishkin WASHINGTON--Western policy makers are waiting to see whether a weakened Kremlin will call off its intervention in Ukraine to win a reprieve from economic sanctions that have combined with low oil prices to push the Russian ruble ...

Senate Votes to Extend Temporary Tax Breaks to End of 2014

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By John D. McKinnon WASHINGTON--The Senate voted to extend a raft of temporary tax breaks through the rest of 2014 on Tuesday, ending a protracted struggle that foreshadows even more difficult tax-code debates next year. The bill now goes to ...

European Stocks Fall, Still Pressured by Oil

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By Tommy Stubbington European stocks dropped in early trading Wednesday as oil prices resumed their downward march, with the sharp swings in markets in recent days showing little sign of abating. The Stoxx Europe 600 was 0.9% lower, mirroring a ...

German Cabinet Approves Road Toll Plan That Hits Foreign Drivers

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By Andrea Thomas BERLIN--Germany's cabinet on Wednesday adopted plans to make foreign-registered drivers pay tolls on German highways from 2016, risking a clash with Brussels and neighboring countries on concerns the levy could discriminate against foreigners. The bill requires all ...

China's Baidu Invests in Uber

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By Wayne Ma BEIJING--Baidu Inc. said Wednesday that it would make an investment in U.S.-based startup Uber. Baidu didn't disclose the size or value of the investment in the ride-hailing app. The Chinese search giant said it would integrate Uber ...

U.K. Economy Set to Benefit From Low Oil Prices, Higher Wages--Update

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By Jason Douglas LONDON--Christmas has come early for British consumers. Tumbling oil prices, rising wages and declining borrowing costs are lifting households' spending power, sending a powerful signal that consumers are set to keep Britain's economy growing in the New ...

European Stocks Fall, Still Pressured by Oil--Update

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By Tommy Stubbington European stocks fell Wednesday as oil prices resumed their downward march, with the sharp swings in markets in recent days showing little sign of abating. The Stoxx Europe 600 was 0.3% lower midmorning, mirroring a late slump ...

U.K. Salaries Get Another Lift in October

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By Jon Sindreu and Matthew Cowley LONDON--Wages for U.K. employees outpaced inflation and rose at their highest pace in two years in October, a sign that living standards for Britons are set to improve in 2015. Average weekly earnings in ...

Nigeria's Currency at Record Low

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By Josie Cox Nigeria's currency slumped to an all-time low against the U.S. dollar Wednesday, pummeled by the tumbling price of oil, rendering the central bank's staunch efforts to stem the decline ineffective. The dollar rose as high as 187 ...

U.S. Crude Oil Supplies Fall Less Than Expected

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

U.S. crude stockpiles fell less than expected in the week ended Dec. 12, according to data released Wednesday by the U.S. Energy Information Administration. Crude-oil stockpiles fell 847,000 barrels to 379.9 million barrels, compared with an average survey estimate for ...

Subscribers: Note on Today's Fed Projections Release

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

For Wednesday's release of the Federal Reserve's interest rate projections at 2 p.m., Dow Jones Newswires will publish median calculations for 2015, 2016 and 2017 projections, a change from past practice. This change will align our methodology with current market ...

U.S. Oil Prices Rise Off Multiyear Lows

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By Nicole Friedman NEW YORK--Oil prices rallied Wednesday as traders closed out positions following a dramatic plunge in prices in recent months. Light, sweet crude for January delivery recently rose $2.12, or 3.8%, to $58.05 a barrel on the New ...

Fed Official Forecasts Sees Slower Pace of Rate Rises

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

WASHINGTON-- Federal Reserve officials continue to see a start to rates rises next year but a slightly slower pace of increases, in an outlook that predicts weaker future inflation gains, according forecasts released by the central bank Wednesday. In the ...

Fed Sticks to Patient Tack on Rates--2nd Update

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By Jon Hilsenrath Federal Reserve officials took a delicate step toward raising short-term interest rates in 2015, introducing language into their policy statement saying they could "be patient" about moving away from near-zero short-term interest rates. Yet in doing so, ...

U.S. Dollar Rallies Against Yen, Euro

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By James Ramage The dollar jumped against the yen and the euro on Wednesday after Federal Reserve Chairwoman Janet Yellen signaled the central bank could raise U.S. interest rates at its April 2015 meeting at the earliest. Ms. Yellen's remarks ...

Plunging Ruble Poses Test for Putin -- Update

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By James Marson, Olga Razumovskaya and Alexander Kolyandr MOSCOW--As Russian President Vladimir Putin has ratcheted up the conflict with the West for most of the year, the economic fallout on ordinary Russians has been limited. Suddenly, though, the plunging ruble ...

Markets Take Wild Ride on Ruble, Oil

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By Alexandra Scaggs Broad swings rattled global trading on Tuesday, as the fallout from the oil-price collapse and the Russian ruble's plunge whipsawed markets and sent U.S. stocks to their third consecutive decline. A volatile session began with stock markets ...

Ruble Volatile in Early Trade -- Update

TODAY: Dec. 17, 2014 PUB DATE: Dec. 17, 2014

By Andrey Ostroukh MOSCOW--The ruble strengthened in early trade Wednesday after the Russian Finance Ministry said the beleaguered currency is "extremely undervalued" and announced plans to start selling its excess foreign-exchange holdings. But trading remained volatile, with the currency falling ...